Moody's rates Mbombela A2.za

Moody's Investors Service said it assigned a national-scale issuer rating of A2.za with stable outlook to the Mbombela Municipality in South Africa.

The rating of Mbombela reflects its relatively low debt burden and an adequate liquidity position, the agency said.

Mbombela is one of the fastest-growing municipalities in South Africa, with significant development in the middle-to-high income property market, Moody's noted.

However, it is challenged by limited capacity in its technical and engineering departments that might restrain its ability to achieve the necessary infrastructure development to support the growth, the agency added.

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